58.com’s (WUBA) Hold Rating Reaffirmed at Brean Capital

Brean Capital reiterated their hold rating on shares of 58.com Inc. (NYSE:WUBA) in a report published on Tuesday.

A number of other analysts have also recently issued reports on WUBA. CLSA cut 58.com from an outperform rating to an underperform rating in a report on Friday, November 11th. Zacks Investment Research upgraded 58.com from a sell rating to a hold rating in a report on Saturday, September 3rd. Credit Suisse Group AG cut 58.com from an outperform rating to a neutral rating in a report on Friday, November 11th. lowered 58.com from an outperform rating to an underperform rating in a research report on Friday, November 11th. Finally, Deutsche Bank AG began coverage on 58.com in a research report on Wednesday, October 5th. They set a buy rating and a $65.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $56.83.

58.com (NYSE:WUBA) opened at 32.77 on Tuesday. The stock’s market capitalization is $4.74 billion. The firm has a 50-day moving average of $39.87 and a 200 day moving average of $46.48. 58.com has a 52 week low of $30.66 and a 52 week high of $70.27.

58.com (NYSE:WUBA) last issued its earnings results on Thursday, November 10th. The company reported ($0.21) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.11) by $0.10. 58.com had a negative return on equity of 5.05% and a negative net margin of 9.27%. The firm had revenue of $306.50 million for the quarter, compared to analysts’ expectations of $308.29 million. During the same quarter in the previous year, the firm posted ($0.50) EPS. The firm’s revenue for the quarter was up 44.0% compared to the same quarter last year. On average, analysts anticipate that 58.com will post ($0.39) EPS for the current year.

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Several large investors have recently bought and sold shares of the stock. Hillhouse Capital Management Ltd. purchased a new stake in 58.com during the third quarter valued at about $264,534,000. Platinum Investment Management Ltd. raised its stake in 58.com by 1,717.9% in the third quarter. Platinum Investment Management Ltd. now owns 3,639,402 shares of the company’s stock valued at $173,453,000 after buying an additional 3,439,202 shares in the last quarter. FMR LLC raised its stake in 58.com by 42.2% in the second quarter. FMR LLC now owns 10,524,363 shares of the company’s stock valued at $482,964,000 after buying an additional 3,125,385 shares in the last quarter. Coronation Fund Managers Ltd. raised its stake in 58.com by 11,038.4% in the third quarter. Coronation Fund Managers Ltd. now owns 1,212,751 shares of the company’s stock valued at $57,799,000 after buying an additional 1,201,863 shares in the last quarter. Finally, Sloane Robinson LLP purchased a new stake in 58.com during the third quarter valued at about $46,397,000. 56.21% of the stock is currently owned by institutional investors and hedge funds.

About 58.com

58.com Inc is a holding company. The Company’s business consists of its online classifieds and listing platforms. Its online classifieds and listings platforms enable local merchants and consumers to connect, share information and conduct business in China. These platforms include 58, Ganji and Anjuke.